The rating on Pennsylvania Housing Finance Agency's (PHFA) mortgage revenue bonds series 2001-72 reflect: Very strong loss coverage protection provided by the agency's leveraged self insurance fund covering estimated loan losses at the 'AA' rating level; Cash flows indicating stable portfolio performance; Investments commensurate with the rating on the bonds; and GO pledge of the agency, which currently has a 'AA' issuer credit rating. Bond proceeds along with an agency contribution from available funds in the indenture will provide funds to refund certain series, originate new single-family mortgage loans, and pay assorted costs of issuance. Approximately $92 million of this issue will refund the agency's single-family revenue bonds series 30, 31, and 32. In addition, approximately $118 million will be
